A train of thoughts and writings on development, technology and the economy focusing on the socio-techno-economic-cultural surge of developing economies to regain and partake in leadership of the world. Written by George Easaw. (This is purely an academic site, no commercial use is allowed. Photography rights lie with the respective organisations). Mention credits as needed.

Saturday, December 06, 2008

GM agrees to file for bankruptcy if bailout plan does not work ..

Layoffs to your right, to your left, front and back.. everywhere... what is happening in US ? maybe that is a way of life ..

I was surprised to read this morning that GM would be filing for bankruptcy if the $10 billion US govt bail out plan does not work well.

What a sad plight for a giant like GM and a symbol of American consumerist culture, to be in Washington with the begging bowl ? Chrysler and Ford are also at Washington with the begging bowl, I am led to understand.. Americans will for sure be a troubled lot seeing all these things happening, which they have never dreamt of in their wildest dreams .. Even we are worried seeing the Americans running helter skelter for cover !!

This is the right time for Tata Motors to take over GM. Hope they are able to raise the funds from the banks and acquire GM before it is too late.. That will ensure that GM will remain as a brand and not be forgotten for ever like Lehman Brothers, and under benevolent Indian control...

Most of the proud Americans would never want such things to happen, given that now GM is less worth than Tata Motors.. Theoritically it is possible, but will Tata want to hurt American ego that much . Tata will then be a dirty name in US .. ??